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On Monday, the main contract of Shanghai copper 1910 opened at 46470 yuan / ton in the morning, and after the opening it rushed up to 46570 yuan / ton, and after a slight exploration of the height, the center of gravity basically maintained between 46440-46480 yuan / ton oscillation sorting, and then the center of gravity continued to move up until the end of noon, and the center of gravity opened in the afternoon for a short time around 46530 yuan / ton, and continued to rise near the close, closing at 46610 yuan / ton
at the end of the session.
Up 180 yuan / ton, up 0.
39%.
The center of gravity of Shanghai copper moved slightly upward during the day, mainly due to the short-term boost of oil prices due to Saudi Arabia's geopolitical conflict, crude oil rushed up to the 55 mark, and copper prices slightly supported by the center of gravity moved
slightly up.
However, the short-term stimulus is difficult to match the essence of weak global demand, and the probability of copper prices falling is still large
.
In terms of the external market, Apanlun copper opened at 5756 US dollars / ton, after the opening of the morning to maintain a low shock pattern, before the afternoon to test 5751 US dollars / ton, but then, due to the recent geopolitical factors, the market once again ignited concerns about crude oil supply, crude oil performance strong upward, pushing copper prices higher, copper market bears took profits, closed positively, the European market quickly broke 5800 US dollars / ton, up to a high of 5809.
5 US dollars / ton
.
As of 16:20, London copper was reported at $5806.
5 / ton, up 0.
79%.
In terms of the market, Shanghai copper continues to hover at 46400 yuan / ton line, holders have a willingness to raise prices in the morning, quotation premium 50 ~ premium 80 yuan / ton, but the transaction market conditions are difficult to open the situation, the holder lowered the flat water copper quotation in the premium 40 yuan / ton, after the transaction has improved, it is temporarily difficult to show a lower premium price, good copper is obsessed with a premium of about 70 yuan / ton, once some of the supply can be pressed down to 60 yuan / ton; The source of wet copper is still small, and the wet process is quoted
around the premium of 20 yuan / ton.
Copper will remain stable, holders will not change their willingness to hold prices, traders are looking forward to low-priced supplies, and the actual transaction market conditions are still deadlocked, showing the characteristics of
Monday.
In the afternoon, due to the rise in the price at the end of the session, the downstream price pressure sentiment was serious, but the overall transaction was deadlocked due to the insistence of holding prices
.
The future copper price mainly depends on the situation on the consumer side, and the supply of copper concentrate is relatively stable in the short and medium term, but this year, copper inventories have come out of a more obvious accumulation trend, indicating weak demand
.
LME inventories have increased sharply for several days, which has hit copper prices to a certain extent, but the current copper price position continues to weaken and the resistance is greater, but there is also some upward pressure, and the short-term trend is volatile, mainly depending on the improvement of consumption
.
